SBI to set up innovation center

State Bank of India is planning to set up an SBI IT Innovation Center. It has sought proposals from global companies registered in India to set up such a center on a Build-Operate-Transfer basis or any other model. The bank intends to develop the center in such a manner that it will have under one roof ideation lab, collaboration center for innovation and forward looking IT concepts broadly in the areas related to banking and a customer experience and co-creation / crowd sourcing center. The center will also act as a hub for collaboration with large IT companies known for innovation, IT partners and OEMs of the bank, start-ups, research organizations and leading academia and industry forum. The broad objective is to build a best in class center deploying latest world class technologies for such centers, if necessary partly or wholly in BOT model or any other model as decided by the bank to enable global sourcing of technology and HR. The center will continuously engage in collaboration, crowd sourcing, and ideation both in and out of the bank. It will also manage the customer experience interfaces by using latest displays, audio visual equipment and other such interactive technologies. The selected company will be responsible for setting up the center including civil and IT infrastructure.